Multibagger stock under Rs 60: This small-cap company announces quarterly results (Q1FY24) & stellar dividend!

The stock gave multibagger returns of 450 per cent in just 3 years while the BSE Sensex Index is up by 70 per cent.

Salasar Techno Engineering Ltd, a leading industrial manufacturing company in India announced its Quarterly Results ended June 30, 2023. Details below:

Financial Highlights for the Q1FY24: 

• Net sales stood at Rs 261.86 crore, up 24.30 per cent compared to Q1FY23. 
• Profit before tax stood at Rs 13.66 crore, up 38.82 per cent compared to Q1FY23.  
• Profit After Tax of Rs 10.15 crore, up 38.66 per cent compared to Q1FY23.  
• The EPS for Q1FY24 is Rs 0.32.

Financial Highlights for FY23:  

• Total Revenue of Rs 1004.89 crore, up 39.79 per cent over FY22.  
• EBITDA of Rs 54.70 crore, up 29.47 per cent over FY22.
• Profit After Tax of Rs 40.25 crore, up 27.94 per cent over FY22.
• The EPS for FY23 is Rs 1.33.

Additionally, The Board of Directors of the company have declared a final dividend of Rs 0.10 per share for a face value of Rs 1 for the financial year 2022-2023.

On Friday, shares of Salasar Techno Engineering Ltd plunged 2.27 per cent to Rs 50.17 per share from its previous closing of Rs 51.89. The stock’s 52-week high is Rs 58.30 and its 52-week low is Rs 27.60

Established in 2006 as a tower manufacturer, Salasar Techno Engineering Ltd has emerged as a fast-growing steel structure manufacturer & EPC infrastructure company, providing services across the telecom, energy and railways sector. In the financial year 2022-2023, the company conducted a stock split, reducing the share value from Rs 10 to Rs 1, with a record date set on June 27, 2022.

The stock gave multibagger returns of 450 per cent in just 3 years while the BSE Sensex Index is up by 70 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.